As the US continues to see a rise in credit card fraud, major retailers are showing support of more secure payment technologies by adopting EMV across their network of stores.Â A recent report by Gemalto cites that the EU has seen an 80% reduction in credit card fraud since migrating to EMV, while the U.S. has witnessed a 47% increase.Â Retailers are also incentivized to adopt EMV capabilities to avoid assuming increased liability for fraudulent transactions after the October 2015 (in-store POS) and October 2017 (fuel dispensers) deadlines communicated by the card associations.
What do we mean when we say Passport is â€śeasy to use?â€ť For those who have used Passport, this may be information you already know, but for those who are new to Passport, let me explain the value of having an easy to use POS.
At Gilbarcoâ€™s recent Retail Technology Conference, Gray Taylor of Conexxus (formerly PCATS) spoke alongside Robin Trickel, Executive Director of Product Compliance at Heartland Payment Systems, and Oliver Manahan, VP of Emerging Payments Technologies at MasterCard.Â During the discussion, Gray highlighted the growing acceptance of the currently established liability shift deadlines from the card associations by stating that â€śthe horse [EMV] is out of the barnâ€ť. Â While retailers still seem skeptical about these deadlines, the card associations appear serious about holding merchants (i.e. â€“ retail petroleum operators) and credit card issuers liable for fraudulent transactions on non-EMV capable terminals.Â Gray concluded his comments by urging retailers to â€śstart today!â€ť Continue reading
With the pending deadlines for EMV migration getting closer every day (10/2015 for in-store transactions and 10/2017 for Automated Fueling dispenser transactions), many retailers are beginning to map out their migration strategies to support the new payment technology.Â Creative retailers are also thinking about ways they can leverage the migration deadline to better connect with and engage their fueling consumers while standing at the pump, creating both an immediate and near-term return on their EMV investment.
With Passport change is a way of life. In other words, the ability for Passport to change is built-in not bolted on, meaning our ability to manage ongoing changes in PCI were actually designed into the product.